Lawmakers urge Fed to improve M&A application process

US lawmakers urged the Federal Reserve to improve and streamline its mergers and acquisition application process following a report highlighting increasing processing times and insufficient data tracking, particularly affecting small community bank M&As. They recommended enhanced data tracking, reporting, and management oversight improvements to shorten M&A timelines and benefit consumers through more efficient banking sector consolidation.

This Wire brief sits within Fusion42's coverage of Fintech.